Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

King Yuan Electronics Co, Ltd. / Equity Bottom-Up

<ul>
<li>The <a href="https://www.smartkarma.com/entities/king-yuan-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:6630:1" rel="noopener">King Yuan Electronics Co, Ltd. (2449 TT)</a> outlook for 3Q24 could see a 5-10% quarter-on-quarter growth at present.  </li>
<li>
<a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>  is currently the second-largest client of KYEC, and its business is rapidly expanding.</li>
<li>
<a href="https://www.smartkarma.com/entities/stmicroelectronics-nv-b981e30b-2a53-4f3d-b1cb-adaac140121c" target="_blank" data-smartkarma-citation="entities:33346:1" rel="noopener">STMicroelectronics NV (STM US)</a> and <a href="https://www.smartkarma.com/entities/will-semiconductor-co-ltd-shan" target="_blank" data-smartkarma-citation="entities:28274:1" rel="noopener">Will Semiconductor Shan (603501 CH)</a> are currently the third and fourth largest clients, respectively.</li>
</ul>


The King Yuan Electronics Co, Ltd. (2449 TT) outlook for 3Q24 could see a 5-10% quarter-on-quarter growth at present.  

NVIDIA Corp (NVDA US)  is currently the second-largest client of KYEC, and its business is rapidly expanding.

STMicroelectronics NV (STM US) and Will Semiconductor Shan (603501 CH) are currently the third and fourth largest clients, respectively.


KYEC (2449.TT): AI Highly Growth Potential may exceed Expectation.

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>U.S. has announced new bans on PE and VC investment into key Chinese tech industries.</li>
<li>Elan Microelectronics, ChipMOS reported good results, two longs to consider as we still see upside.</li>
<li>Apple earnings short-term trades update -- We're closing out both trades, one at a loss and one roughly flat.</li>
</ul>


U.S. has announced new bans on PE and VC investment into key Chinese tech industries.
Elan Microelectronics, ChipMOS reported good results, two longs to consider as we still see upside.
Apple earnings short-term trades update -- We're closing out both trades, one at a loss and one roughly flat.


Taiwan Tech Weekly: U.S. Announces New Bans on Investment into Chinese High Tech Industries

<ul>
<li>Wave of earnings this week -- AMD, Qualcomm, Apple internationally... and Delta, Advantech, Innolux, Winbond, Realtek, plus others in Taiwan.</li>
<li>We visited Micron’s A3 fab in Taiwan; SK Hynix gives strongest comments yet on Memory turn-around; Long Nanya Tech on DRAM turn-around.</li>
<li>Intel results readthrough: PC cycle improving and could be accelerated by AI-demand... We continue to see Elan Micro as a laggard play on rallying PC names.</li>
</ul>


Wave of earnings this week -- AMD, Qualcomm, Apple internationally... and Delta, Advantech, Innolux, Winbond, Realtek, plus others in Taiwan.
We visited Micron’s A3 fab in Taiwan; SK Hynix gives strongest comments yet on Memory turn-around; Long Nanya Tech on DRAM turn-around.
Intel results readthrough: PC cycle improving and could be accelerated by AI-demand... We continue to see Elan Micro as a laggard play on rallying PC names.


Taiwan Tech Weekly: Wave of Taiwan Earnings Plus AMD & Apple; AI Accelerating DRAM & PC Recovery

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>TSMC's premium is trading at a historically high level after its recent results release, while ADR short interest has remained subdued.</li>
<li>ASE's ADR premium is at one of its highest levels in history, appears precarious in our view.</li>
<li>ChipMOS premium near middle of range; the company will report results this week.</li>
</ul>


TSMC's premium is trading at a historically high level after its recent results release, while ADR short interest has remained subdued.
ASE's ADR premium is at one of its highest levels in history, appears precarious in our view.
ChipMOS premium near middle of range; the company will report results this week.


Taiwan Dual-Listings Monitor: TSMC Premium High & Short Interest Down; ASE Premium Precarious

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Taiwan Semiconductor managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>Despite the cyclical downturn, the company continued investing in R&D to support the development of its N3 and N2 technologies.</li><li>We give Taiwan Semiconductor Manufacturing a 'Hold' rating with a revised target price.</li></ul>

Taiwan Semiconductor managed to exceed analyst expectations in terms of revenue as well as earnings.Despite the cyclical downturn, the company continued investing in R&D to support the development of its N3 and N2 technologies.We give Taiwan Semiconductor Manufacturing a 'Hold' rating with a revised target price.

Taiwan Semiconductor Manufacturing: Unlocking The Reasons For Its Growth - Financial Forecasts

Taiwan

Taiwan Semiconductor Manufacturing Company, Ltd. manufactures and markets integrated circuits. The Company provides the following services: wafer manufacturing, wafer probing, assembly and testing, mask production, and design services. TSMC's ICs are used in computer, communication, consumer electronics, automotive, and industrial equipment industries.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Taiwan Semiconductor (TSMC) (2330 TT)

KYEC (2449.TT): AI Highly Growth Potential may exceed Expectation.

KYEC outlook for 3Q24 shows potential 5-10% growth, with NVDA Corp as second-largest client and expanding business. STMicroelectronics and Will...

Patrick Liao

Taiwan Tech Weekly: U.S. Announces New Bans on Investment into Chinese High Tech Industries

Also, Elan Microelectronics and ChipMOS reported strong results. The two companies represent two Longs to consider, we still see upside.

Vincent Fernando, CFA

Taiwan Tech Weekly: Wave of Taiwan Earnings Plus AMD & Apple; AI Accelerating DRAM & PC Recovery

Wave of Taiwan earnings this week with Delta, Advantech, Innolux, Winbond, Realtek, Elan, ChipMOS plus others in Taiwan. Also -- We visited...

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Premium High & Short Interest Down; ASE Premium Precarious

TSMC's premium is trading at a historically high level after its recent results release, while ADR short interest has remained subdued.

Vincent Fernando, CFA

Taiwan Semiconductor Manufacturing: Unlocking The Reasons For Its Growth - Financial Forecasts

Taiwan Semiconductor managed to exceed analyst expectations in terms of revenue as well as earnings. Despite the cyclical downturn, the company...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)